LexBlog (LexBlog India)

1235 results for LexBlog (LexBlog India)

  • Commerce Issues Final Determination in AD/CVD Investigation on Utility Scale Wind Towers from India

    The Department of Commerce published its Final Determination in the antidumping (“AD”) and countervailing duty (“CVD”) investigation of Utility Scale Wind Towers from India on October 13, 2021, which investigation was initiated in November 2020. The AD/CVD petition was filed by Wind Tower Trade Coalition (“Petitioner”) and a complete summary of the original petition can...

  • Global Law and Business Podcast – Jayesh Kothari (India)

    Listen HERE or stream on Spotify, Apple Podcasts, Amazon Music, Stitcher, or Soundcloud! At Harris Bricken, we keep close tabs on what is happening around the world, and we know that our friends and clients do, as well. We are happy to provide this podcast series: Global Law and Business, hosted by international attorneys Fred Rocafort and Jonathan Bench, where we look at the...

  • National Monetisation Pipeline – Fueling Economic Growth

    INTRODUCTION Monetisation of assets has been identified as one of the pillars for enhanced and sustainable infrastructure financing. The Finance Minister of India (“FM”) had, in December 2019, announced a National Infrastructure Pipeline (“NIP”) that envisages an investment of INR 111 lakh crore in the infrastructure sector in the period between 2019 and 2025 and...

  • Opportunities for Foreign Universities in India: A Regulatory Overview

    INTRODUCTION Education is one of India’s most rapidly-growing sector, which is expected to be worth approximately USD 225 billion[1] by 2025. Enrolment in higher education institutions that stands at approximately 37.4 million[2] today, is estimated to grow by nearly 38% by the year 2030, with India potentially emerging as the single-largest provider of global talent...

  • Post-IPO financial results – when to disclose

    Under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“SEBI Listing Regulations”), listed companies are required to submit their financial results within 45 days of end of each quarter, other than the last quarter of a financial year where they have 60 days. Due to such requirement,...

  • Commerce Initiates New Administrative Reviews on AD/CVD Orders

    On October 7, 2021, the U.S. Department of Commerce published a notice initiating new administrative reviews for antidumping duty (AD) and countervailing duty (CVD) orders with August anniversary dates. Listed below are the countries and products named in the notice: India Finished Carbon Steel Flanges (A–533–871/C–533–872) Indonesia Utility Scale Wind Towers (A–560–833) Malaysia Polyethylene...

  • Role of IFSC in the Indian SPAC Dream: An Overview – Part 2

    In part 1 of this series of blogs (Role of IFSC in Indian SPAC Dream- An Overview), we succinctly summarised the various dimensions of IFSCs, viz. their ‘foreign territory’ status in India, applicable laws and regulation and the development of regulatory regime for special purpose acquisition companies (“SPACs”) listings therein. In this blog we are...

  • Interim Application Already Considered by Court? Section 9(3) of the Arbitration Act to Not Apply

    Introduction Recently, the Supreme Court in Arcelor Mittal Nippon Steel India Ltd. v. Essar Bulk Terminal Ltd.,[1] (“Arcelor-Essar Judgment”) held that the bar on the Court from entertaining interim applications under Section 9(3) of the Arbitration and Conciliation Act, 1996 (“Act”) was applicable only if the application  had not been taken up for consideration at...

  • Major Impetus to IPO Rush

    Despite the challenging times, the Indian capital markets are hitting all-time highs on a daily basis and have been flooded with capital. This has seen a rush of equity offerings over the last 12 months including record filings for draft documents over the last few months. In their continuous efforts to make India exchanges more...

  • Prakash Gupta Judgment – Has the Supreme Court given more Powers to SEBI in the Matter of Compounding

    Introduction The Securities and Exchange Board of India Act, 1992 (“SEBI Act”) was essentially introduced to protect the interests of investors and to regulate and promote the development of the securities market in India. As a direct consequence of this legislative intention, the SEBI Act lays down that contravention, attempt to contravene and abetment of...

  • Role of IFSC in the Indian SPAC Dream: An Overview – Part 1

    India, being one of the major consumers of international financial services, has been pushing the envelope on making itself the hub for such services. With this objective, the Government of India had operationalised India’s first (and currently the only) International Financial Services Centre (“IFSC”) at GIFT Multi Services Special Economic Zone (“SEZ”) in Gujarat in...

  • FIG Paper (No. 8) – New Master Directions for PPI – A Fresh Look at Prepaid Payment Instruments!

    Introduction: With the pandemic acting as a tailwind for the digital payments industry in India, the fintech industry represents a key opportunity for the Reserve Bank of India (“RBI”) for its financial inclusion push in the country. A key driver in this regard is the burgeoning prepaid payment instruments (“PPI”) industry. PPIs have been widely...

  • Penalty for penalty: CCI penalises Maruti Suzuki for indulging in resale price maintenance

    In an order published on August 23, 2021, the Competition Commission of India (CCI) penalised Maruti Suzuki India Limited (MSIL) to the tune of INR 2 billion (approx. USD 27 million) for restricting and controlling the discounts offered by its dealers to the end consumers. Such conduct by India’s leading passenger vehicle manufacturer was held...

  • How to Avoid Liability for an Independent Contractor’s Injuries (Hint: Don’t Throw Stones)

    “The Wound was Bound,” 1912. From NYPL Collection. Sometimes injuries can be reasonably expected, sometimes not. A good example of when injuries can be expected is the annual Bagwal festival in northern India. This year’s festival was described by Indian media as “a low-key affair” with only 77 of the 300 participants sustaining injuries. Wait,...

  • Declarations of beneficial interest under the Companies Act vis-à-vis the Benami Act: No immunity and no “Ganga Snan”!

    Introduction Coinciding with the demonetisation of currencies by the Government of India in 2016, the Benami Transactions (Prohibition) Act, 1988, was substantially amended and renamed as the Prohibition of Benami Property Transactions Act, 1988 (“Benami Act”). The Benami Act was brought into effect from November 01, 2016. It was a well-timed move to ensure that...

  • Charging Up the EV Sector through Policy Reform

    Government of India approach As the world moves towards clean and eco-friendly mobility fuel alternatives, the Government of India (“GOI”) is playing its part by framing environmental-friendly policies & regulations and encouraging the use of electric vehicles (“EVs”) in the country. The National Electric Mobility Mission Plan, 2020 had launched the Faster Adoption and Manufacturing...

  • International Financial Services Centre, an idea whose time has come – Part I: Banking Sector

    Inauguration of India’s first International Financial Services Centre (“IFSC”) at the Gujarat International Finance Tec-City (“Gift City”) in Gujarat is a positive development to invigorate our financial sector. If everything that is being attempted to achieve is accomplished, it will mark our entry on the global stage. When IFSC was being set up, our then...

  • Delhi Court attempts to decode the cryptic case of cryptocurrencies in India

    INTRODUCTION: Cryptocurrencies, worryingly unregulated, decentralised virtual currencies, are steadily gaining traction in the Indian transaction landscape. With digitalisation and smart contracts becoming the new norm (especially considering the COVID-19 pandemic), global trade in cryptocurrencies has increased by leaps and bounds. However, one cannot ignore the unprecedented rise in cybercrimes

  • SEBI Regulatory Update : Proposed Amendments to AIF Regulations

      There have been significant changes to the regulatory regime governing alternative investment funds (“AIFs”)[1] in the past year and a half. In its Board Meeting dated August 06, 2021, the Securities and Exchange Board of India (“SEBI”) approved a fresh set of amendments to the SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”), governing...

  • FDA updates Salmonella Outbreak linked to Shrimp from Avanti Frozen Foods of India

    Total Illnesses: 9 Hospitalizations: 3 Deaths: 0 Last Illness Onset: 7/20/2021 States with Cases: AZ (2), MI (2), NV (4), RI (1) Product Distribution: Nationwide The FDA, along with CDC and state and local partners, investigated a multistate outbreak of Salmonella Weltevreden infections linked to the consumption of frozen cooked shrimp manufactured by Avanti Frozen Foods of India. On...

  • Company refuses to expand recall despite new patients in outbreak linked to shrimp

    The company has not issued an expanded recall even though there have been additional patients identified in a Salmonella Weltevreden outbreak linked to shrimp from Avanti Frozen Foods of India. As of this afternoon, new patients were identified after the Centers for Disease and Control and Prevention declared the outbreak over on July 21, according...

  • Funds in GIFT City – FAQs & Structuring Insights

     A. Introduction Gujarat International Fin-Tec City (“GIFT City”) is being developed as a global financial and IT Services hub on the lines of globally benchmarked financial centres. It includes a Special Economic Zone having the status of an International Finance Services Centre (“IFSC”). The IFSC is set up to undertake financial services transactions that are...

  • Customs Ruling of the Week – Classification of an Outdoor Wooden Swing

    In ruling NY N320579 (July 27, 2021), Customs and Border Protection (CBP) discussed the tariff classification of an outdoor wooden swing from India. The seat of the swing is 18” in width, 9” in depth, and 2” in thickness. It is made of Meranti wood and has no armrest, backrest, or footrest. The seat is meant...

  • Extra-territorial application of India’s securities law – Has SEBI cast its net too wide?

    “If a connection exists, it is for the Legislature to decide how far it should go in the exercise of its powers.[1]” Introduction The territorial application of laws made by Parliament is enshrined in Article 245 of the Constitution of India (“Constitution”). The universal presumption that laws made by a country are limited to its...

  • Decoding the applicability of new TDS provisions on sale of securities

    Generally, transactions involving sale of shares by non-resident shareholders are subject to withholding tax at applicable rates under the Income-tax Act, 1961 (“IT Act”), provided the gains arising from such sales are taxable in India. However, there was no requirement to withhold/ deduct any tax on gains arising to resident sellers from sale of shares/...

  • International Trade: Analysing India’s potential free trade agreements with the UK and the EU – Part 2

    In the first part of this series (read here), we analysed the prospects and challenges of a potential free trade agreement (FTA) between India and the UK, as a precursor to which, the governments of India and the UK agreed on an Enhanced Trade Partnership last month. Around the same time, the EU also agreed...

  • Probate Requirement in Delhi & Around

    Introduction A probate is a certificate granted by the court in respect of a Will, which proves the validity of the Will and grants rights to the executor to administer the estate of the deceased testator in the manner set out in the Will. Post the demise of the testator, the executors named in the...

  • Potential COVID-19 Vaccine Waiver

    The news cycle remains dominated by COVID-19 issues.  One thing we’re watching is whether and to what extent the World Trade Organization (WTO) will waive intellectual property (IP) protections for vaccines in an attempted effort to increase global access to vaccines. A broad proposal for waiver on enforcement of IP related to COVID-19 prevention, containment,...

  • Indian Court Orders Wide-Ranging Protections For LGBTIA+ Community

    In an unusual 107-page opinion earlier this month, a Justice of the Madras High Court in India handed down a wide ranging series of directives to be undertaken by various government agencies to protect the safety of the LGBTQIA+ community, and to eliminate prejudice against them.  In Sushma v. Commissioner of Police, (Madras High Ct.,...

  • Learned Intermediary and Alternative Design Causation Knock Out Claims in Texas

    Today’s case was decided back on April 23rd, but just showed up on our radar.  That made us look back to see first what we were posting about on that date (answer:  Lone Pine) and second, what was the world talking about on that date (answer:  Chauvin guilty verdict, surging Covid-19 cases in India, vaccinations;...

  • Request a trial to view additional results

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT